With the current tough financial times, more and more people are getting desperate for money and would do almost anything to fund their budget deficits. Commercial banks have discovered this harsh reality and are capitalizing on it by coming up with innovative ways of luring you to borrow from them.

A few months ago, I wrote about some wisdom my grandpa dispensed when I first started working. I’m ashamed to say I didn’t quite follow all the guidelines, and now 5 years later I will be seriously engaging with a SACCO. Very few people under 30 are members of…